A Review and Outlook of the Centennial of China’s Industrialization:The CPC’s Industrialization Strategy

Industrialization has been a dream for the Chinese nation since modern history and a goal of the Communist Party of China(CPC).Ever since its founding in 1921,the CPC has been exploring a path for China’s industrial development based on socialism as the political and institutional premise.Since the founding of the People’s Republic of China in 1949,the Chinese people have established a socialist system under the CPC’s leadership and carried out industrial development for over seven decades in the world’s most populous country,blazing a new trail of socialist industrialization with Chinese characteristics.Under the CPC’s leadership,China established an independent and complete industrial system in less than three decades from 1949 to 1978,and developed into the world’s largest industrial power with the most complete industrial sectors in over three decades from 1979 to 2016.In its future industrial development,China aims to complete new-type industrialization by 2035,build a modern economic system,reach the level of moderately developed countries in terms of GDP per capita,and develop into a major world industrial power by the centennial of the founding of the People’s Republic of China in 2049.

Production Chain Length and PPI-CPI Divergence:Analysis Based on the Global Input-output Price Model

Productivity and international energy price shocks are reflected in PPI and CPI via industrial chains.China’s in-depth participation into the global value chains has increasingly lengthened its industrial production chains.The question is how the changing length of production chains will affect CPI and PPI,as well as CPI-PPI correlation?By constructing a global input-output price model,this paper offers a theoretical discussion on the impact of production chain length on the CPI-PPI divergence.Our findings suggest that the price shock of international bulk commodities has a greater impact on China’s PPI than that on CPI.The effects on both China’s PPI and CPI estimated by using the single-country input-output model are higher than the results estimated with the global input-output model.However,the difference between CPI and PPI variations estimated with the global input-output model is greater than the result estimated with the single-country input-output model,which supports the view that the lengthening of production chains,especially international production chains,leads to a divergence between CPI and PPI.Empirical results based on cross-national panel data also suggest that the lengthening of production chains has reduced the CPI-PPI correlation for countries,i.e.the lengthening of production chains has increased the PPI-CPI divergence.That is to say,policymakers should target not just CPI in maintaining price stability,but instead focus on the stability of both PPI and CPI.Efforts can be made to proactively adjust the price index system,and formulate the industrial chain price index.

Data-Empowered High-Quality Economic Development: Mechanisms and Pathways

To achieve high-quality economic development,it is imperative to prioritize the real economy and foster new factors for economic growth.Data,as a new factor of production,plays a pivotal role in facilitating the seamless integration between digital technology and the real economy.It possesses inherent attributes and techno-economic characteristics that enable the extraction of value across various processes,including production,transaction,consumption,and regulatory supervision.The integration with digital technology enhances the productivity and efficiency of the real economy by facilitating service sector digitalization,accelerating the growth of the new real economy,and supporting the virtual economy in its role of serving the real economy.At present,unleashing the value of data is hindered by inadequate fundamental systems for the data,a lack of activity in the transaction market,and the underutilization of the data as a factor of production by enterprises in the real economy.Therefore,it is advised that data be fully utilized to develop the real economy through the four-pronged approach of“enhancing support for the high-quality provision of the data,expediting the integration of the data into the real economy,promoting the high-quality development of the real economy,and enhancing public service and governance systems”.

China’s Service Sector towards 2035:Outlook,Strategic Position and Policy Advice

China is setting out on a new journey of building a modern socialist country in all respects after achieving moderate prosperity.Modern services are an important part of China’s economy,underpinning China’s development towards a great modern socialist country.Globalization,industrial development,urbanization,innovation and income growth will drive China’s service sector development.By 2035,the service sector will account for 60.98%and 59.12%of total value-added and employment,respectively,and labor productivity in the service sector will rise from 145,500 yuan/person in 2019 to 282,300 yuan/person.The Fifth Plenum of the 19th CPC Central Committee called for“basically achieving the vision of socialist modernization by 2035.”According to the CPC Central Committee’s overall arrangements for the 2035 vision,we must identify a clear strategic position and tasks for the development of modern services as a key element of the modern industrial system,enhance service sector competitiveness,and achieve service sector modernization.To achieve this strategic goal,we must promote digitalized,intelligent,platform-based,standardized,and quality-oriented service sector development.We must give play to the decisive role of the market and the macro-regulatory role of the government in spurring service innovation,industry integration and clustering,and service sector reform and openness.

A Re-discussion of Imposed Interpretation

First of all,Chinese hermeneutic construction must achieve new insights and further progress in solving many meta-problems of fundamental significance.The interpretive approach of imposed interpretation has been extremely common in the textual studies and theoretical construction of various disciplines.It is seen in expressing one’s own ideas by means of surreptitious changes to objects and words in the name of the text,imposing these ideas on the text,and then claiming the text expresses just such ideas.Such interpretation violates the logical rules and ethics of hermeneutics,and its legitimacy is thus questionable.Hermeneutics has objects,and the hermeneutic object has certainty.Deviation from the object cancels out the legitimacy of interpretation.Psychologically,imposed interpretation may have a convincing rationale.However,this does not mean it is rational and unassailable,just as the fact that mistakes are hard to avoid does not mean that they are rational and unassailable,let alone truthful.An interpretation with strong theoretical and logical power need not resort to coercion or imposition.Interpretation is the interpretation of motivation.To make a proper and reasonable interpretation,it is fundamental to adhere to the certainty of the hermeneutic object;to insist on a holistic pursuit in the hermeneutic sense;and to constrain the blind unfolding of the motivations of interpretation effectively and rationally.We should be especially alert to the imposed interpretation caused by subjective motives outside the realm of literature.An effective way to rationally constrain the coercive force of interpretation is to always start from the phenomenon itself,insist on a holistic interpretive attitude,and adhere to multiple and multidirectional intersecting circles of interpretation.

Adapting Marxism to the Chinese Context: A Glorious Chapter in CPC’s Hundred-Year History

The Communist Party of China(CPC)has undergone an incredible journey over the past century.Adapting Marxism to the Chinese context has been a glorious chapter in CPC’s 100-year history,and an important tool that has enabled the CPC to capture victory after victory and bring about one achievement after another.In his speech at the ceremony marking the centenary of the CPC on July 1.

论全球安全治理秩序的政治哲学基础:公正合理

Today,the world faces daunting challenges in security governance.What security order the world needs and how to deliver global security governance are humanity’s major issues.This article takes stock of relevant concepts and practical guidelines embedded in the efforts of the Communist Party of China to promote a fairer and more equitable international order and the existing theses and theories of Eastern and Western civilizations on the meaning of fairness and equity.It proposes five principles-equality,fairness,consent,efficiency,and compensation-as the requirements and foundations of fairness and equity.Furthermore,it verifies the applicability of these principles to major practical issues,including the Ukraine crisis,climate change,and China’s stance on global security governance,expounding the policy implications of fairness and equity as a norm or value orientation.Championing a fair and equitable global security order will help build consensus on Chinese solutions and facilitate historical peace,development,and win-win cooperation trends.

Fiscal Decentralization,Financial Decentralization and Macroeconomic Governance

Improvement of the macroeconomic governance system as an important part of the national governance system is a key initiative to address major economic problems in the new era.The coordination and economic regulatory effects of fiscal and monetary policies are subject to the arrangements of fiscal and financial decentralization systems.Analysis revealed a mismatch between China’s fiscal income decentralization and fiscal spending decentralization,as manifested in the clear decentralization of fiscal revenue and vague decentralization of fiscal spending;in pursuing local economic stability,local governments seek other sources of revenue and compete for financial resources,as manifested in apparent financial centralization and implicit financial decentralization,causing financial decentralization to be inconsistent between various levels of government and between government and the market.The above-mentioned problems are reflected in mutual conversion between public finance and financial intermediation as two financial allocation methods and mutual transmission between fiscal and financial risks,making the case for enhancing coordination between fiscal and monetary policies.In creating a scientific macroeconomic governance system,therefore,we must establish clear local government responsibilities,reduce the proportion of local fiscal spending,clarify the orientations and relief boundary of fiscal and monetary policies,moderately decentralize financial powers,and give better play to the role of local governments in improving the quality of economic development and controlling major risks.